Managerial Accounting Homework Help. Need solved by 2:00 PM PST. ATTACHMENT PREVIEW Download attachment ACC222 Homework 2-12-16.docx Question 2 In July, Edmonds Resort Company incurred $62,400 of food service costs and served 12,000 meals. In December, when 8,000 meals were served, the food service cost was $49,600. Based on this limited data estimate for the cost of food service: A. the variable cost per unit B. the fixed cost per month Show your final answer on the top line next to the letter. Show your calculations directly below the answer _________________________________________________________________________________ 4 points Question 3 The following information is available for maintenance costs for the first 6 months of the year. Maintenance costs Machine hours January $ 5,200 2,900 February $ 11,200 5,400 March $ 10,960 6,100 April $ 7,040 3,500 May $ 7,220 3,100 June $ 8,900 4,700 Use the high low method to find the variable cost per machine hour based on this information. Note that you are choosing a high point and a low point for this cost function (you cannot mix and match the x and y’s that determine a point. Think about whether you should choose the high or low based on activity or cost. Round your answer to the nearest penny. a. 1.80 per Machine hour b. .56 per Machine hour c. .42 per Machine hour d. 1.20 per Machine hour e. 2.40 per Machine hour 3 points Question 4 Use this data for the questions in this section. Reddy Company has the following cost formulas for monthly overhead: 1. Indirect materials: $2,000 plus $0.40 per machine hour 2. Maintenance: $1,500 plus $0.60 per machine hour 3. Machine setup: $0.30 per machine hour 4. Utilities: $200 plus $0.10 per machine hour 5. Depreciation: $800 Match each cost title to the cost behavior category that fits it (according to the description). Choose from: Variable, Fixed or Mixed – Indirect materials A Variable . – Maintenance – Machine setup – Utilities – B. Mixed Depreciation C. Fixed 5 points Question 5 Shipping costs at Colstrip Mining Company are a mixture of variable and fixed components. The company shipped 8,000 tons of coal for $400,000 in shipping costs in February and 10,000 tons for $499,000 in March. Assuming that this activity is within the relevant range, expected shipping costs for 11,000 tons would be: a. $554,000 b. $422,222 c. $544,500 d. $548,900 e. $548,500 3 points Question 6 The following monthly data are available for the Wyatt Company and its only product: Unit selling price…………………………………. $36 Unit variable expenses…………………………. $28 Total fixed expenses……………………………. $50,000 Actual sales for the month of May………….. 7,000 units The margin of safety for the company (in sales dollars) during May was: (Choose the closest answer. Margin of safety and break-even are NOT the same thing.) a. $252,000 b. $225,000 c. $750 d. $27,000 e. $50,000 3 points Question 7 The following budgeted income statement was prepared by Fullton Corporation: Sales (100 units at $100 a unit) $10,000 Cost of goods sold: Direct labor (variable) $1,500 Direct materials 1,400 Variable factory overhead 1,000 Fixed factory overhead 500 Gross margin 4,400 5,600 Selling expenses: Variable 600 Fixed 1,000 Administrative expenses: Variable 500 Fixed 1,000 Net operating income 3,100 $ 2,500 How many units would have to be sold to break even? (Choose the closest answer.) a. 50 b. 58 c. 68 d. 75 3 points Question 8 The following information was extracted from the accounting records of MVA Corporation. MVA sold 20,000 items during the accounting period. Total Sales revenue $1,200,000 Total Variable cost $400,000 Total fixed costs $480,000 How many units does MVA need to sell to have net income of $80,000? a. 7,000 b. 9,333 c. 28,000 d. 12,000 e. 14,000 3 points Question 9 The following information was extracted from the accounting records of MVA Corporation. MVA sold 20,000 items during the accounting period.